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SCHEDULE I - Parent Company Information - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015
--- | --- | --- | --- | ---
ASSETS |  |  |  |  |
Cash and cash equivalents |  | $ 11,688 | $ 7,052 |  |
Equipment held for operating lease, less accumulated depreciation |  | 1,673,135 | 1,342,571 |  |
Maintenance Rights |  | 14,763 | 14,763 |  |
Equipment held for sale |  | 789 | 34,172 |  |
Receivables, net of allowances |  | 23,270 | 18,848 |  |
Spare parts inventory |  | 48,874 | 16,379 |  |
Deferred income taxes |  | 45,561 | 35,713 |  |
Investments |  | 47,941 | 50,641 |  |
Property, equipment & furnishings, less accumulated depreciation |  | 27,679 | 26,074 |  |
Intangible assets, net |  | 1,379 | 1,727 |  |
Other assets, net |  | 15,164 | 50,932 |  |
Total assets | [1] | 1,934,943 | 1,603,431 |  |
Liabilities: |  |  |  |  |
Accounts payable and accrued expenses |  | 42,939 | 22,072 |  |
Deferred income taxes |  | 135,818 | 113,910 |  |
Debt obligations |  | 1,337,349 | 1,085,405 |  |
Maintenance reserves |  | 94,522 | 75,889 |  |
Security deposits |  | 28,047 | 25,302 |  |
Unearned revenue |  | 5,460 | 8,102 |  |
Total liabilities | [2] | 1,598,602 | 1,295,050 |  |
Redeemable preferred stock ($0.01 par value, 2,500 shares authorized; 2,500 shares issued and outstanding at December 31, 2018 and 2017, respectively) |  | 49,554 | 49,471 |  |
Shareholders' equity: |  |  |  |  |
Common stock ($0.01 par value, 20,000 shares authorized; 6,176 and 6,419 shares issued and outstanding at December 31, 2018 and 2017, respectively) |  | 62 | 64 |  |
Paid-in capital in excess of par |  |  | 2,319 |  |
Retained earnings |  | 286,623 | 256,301 |  |
Accumulated other comprehensive income, net of income tax benefit |  | 102 | 226 |  |
Total shareholders' equity |  | 286,787 | 258,910 | $ 196,260 | $ 209,223
Total liabilities, redeemable preferred stock and shareholders' equity |  | 1,934,943 | 1,603,431 |  |
Parent Company [Member] |  |  |  |  |
ASSETS |  |  |  |  |
Cash and cash equivalents |  | 5,302 | 2,860 |  |
Equipment held for operating lease, less accumulated depreciation |  | 618,167 | 662,162 |  |
Maintenance Rights |  | 3,296 | 3,296 |  |
Equipment held for sale |  | 701 | 34,084 |  |
Receivables, net of allowances |  | 3,468 | 7,980 |  |
Spare parts inventory |  | 483 | 11,643 |  |
Due from affiliates, net |  | 14,877 | 18,439 |  |
Deferred income taxes |  | 13,896 |  |  |
Investments |  | 47,941 | 50,641 |  |
Investment in subsidiaries |  | 141,792 | 50,047 |  |
Property, equipment & furnishings, less accumulated depreciation |  | 15,077 | 15,238 |  |
Intangible assets, net |  | 271 | 271 |  |
Prepaid deposits |  | 1,383 | 36,455 |  |
Other assets, net |  | 10,766 | 8,385 |  |
Total assets |  | 877,420 | 901,501 |  |
Liabilities: |  |  |  |  |
Accounts payable and accrued expenses |  | 27,128 | 15,686 |  |
Due to affiliates, net |  | 40,187 | 2,300 |  |
Deferred income taxes |  |  | 7,456 |  |
Debt obligations |  | 434,053 | 508,350 |  |
Maintenance reserves |  | 27,329 | 36,809 |  |
Security deposits |  | 10,692 | 17,795 |  |
Unearned revenue |  | 1,690 | 4,724 |  |
Total liabilities |  | 541,079 | 593,120 |  |
Redeemable preferred stock ($0.01 par value, 2,500 shares authorized; 2,500 shares issued and outstanding at December 31, 2018 and 2017, respectively) |  | 49,554 | 49,471 |  |
Shareholders' equity: |  |  |  |  |
Common stock ($0.01 par value, 20,000 shares authorized; 6,176 and 6,419 shares issued and outstanding at December 31, 2018 and 2017, respectively) |  | 62 | 64 |  |
Paid-in capital in excess of par |  |  | 2,319 |  |
Retained earnings |  | 286,623 | 256,301 |  |
Accumulated other comprehensive income, net of income tax benefit |  | 102 | 226 |  |
Total shareholders' equity |  | 286,787 | 258,910 |  |
Total liabilities, redeemable preferred stock and shareholders' equity |  | $ 877,420 | $ 901,501 |  |
[1] | Total assets at December 31, 2018 and December 31, 2017 include the following assets of variable interest entity’s (“VIE’s”) that can only be used to settle the liabilities of the VIE’s: Cash, $656 and $130; Restricted Cash $70,261 and $40,272, Equipment, $1,032,599 and $657,333; and Other, $1,075 and $20,090 respectively.
[2] | Total liabilities at December 31, 2018 and December 31, 2017 include the following liabilities of VIE’s for which the VIE’s creditors do not have recourse to Willis Lease Finance Corporation: Debt obligations, $903,296 and $577,056, respectively.

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- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(3) -URI http://asc.fasb.org/extlink&oid=109500613&loc=SL6031897-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(14)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(8)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- Definition The amount of property, by major property class, net of accumulated depreciation, subject to or available for lease as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=84164653&loc=d3e41551-112718 + Details
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- Definition This element represents money paid in advance to protect the provider of a product or service, such as a lessor, against damage or nonpayment by the buyer or tenant (lessee) during the term of the agreement. Such damages may include physical damage to the property, theft of property, and other contractual breaches. Security deposits held may be interest or noninterest bearing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.15(a)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
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- Definition Carrying amount, attributable to parent, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer. + References No definition available. + Details
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